Money

By Oliver Darcy, CNN Business The staggering level of apparent deception staged by former crypto king Sam Bankman-Fried wasn’t uncovered by government investigators or a major powerhouse financial news organization, such as The Wall Street Journal. Instead, the public’s first glimpse of the alleged wrongdoing by Bankman-Fried — known to insiders as SBF — came

By Anna Bahney, CNN Business Mortgage rates dropped again this week, after plunging nearly half a percentage point last week. The 30-year fixed-rate mortgage averaged 6.58% in the week ending November 23, down from 6.61% the week before, according to Freddie Mac. A year ago, the 30-year fixed rate was 3.10%. Mortgage rates have risen

By Paul R. La Monica, CNN Business Americans are getting ready for food, family and football on Thursday, but investors were still holding off until Wednesday afternoon before starting to give thanks. That’s because the Federal Reserve released the minutes from its latest meeting at 2pm ET Wednesday, which provided more clues about the central

By Alicia Wallace, CNN Business Heading into the all-important holiday shopping season, American consumers still aren’t feeling very confident about the state of the US economy. The University of Michigan’s consumer sentiment index landed at 56.8 in November, up from the preliminary reading of 54.7 measured earlier this month but lower than the 59.9 recorded

By Vanessa Yurkevich, CNN A US freight rail strike could cost the US economy $1 billion in the first week of the strike, according to a new analysis from the Anderson Economic Group. In the first three days alone, US workers and consumers could see potential losses of a quarter billion dollars as a transit

By Anna Cooban and Uliana Pavlova, CNN Business Europe is bracing itself for further cuts to its supply of Russian natural gas as Moscow threatens to slash flows to Moldova, a country on Ukraine’s southwestern border. Russian state gas giant Gazprom said Tuesday it would reduce shipments to the country starting Monday over disputed claims

By Danielle Wiener-Bronner, CNN Business Over the past year, as some meat prices have fallen, chicken prices have remained stubbornly high. Strong demand, supply issues and even breeding problems with under-performing roosters kept the pressure on. The supply shortage even had some restaurants, like Wingstop, experimenting with less popular items like thighs. But now conditions

By Chris Isidore and Vanessa Yurkevich, CNN Business In September, President Joe Biden, the most union friendly president in recent history, got personally involved in negotiations that reached a tentative labor deal that averted a strike at the nation’s major freight railroads. It was a deal he hailed as a “win for tens of thousands

By Jeanne Sahadi, CNN Business If you get paid through apps like Venmo or PayPal or platforms like Etsy or Airbnb, preparing your taxes next year may be a little more confusing than usual. A new tax reporting rule requires third-party payment platforms to issue you and the IRS a 1099-K for business transaction payments